Happy last Monday of July everyone. Today marked another rally day for the NYMEX prompt month August contract as prices settled US$0.428/MMBtu up from Friday to close out at $8.727. Hot weather and storage concerns continues to be at the forefront of everyone’s natural gas concerns even with other fundamentals changing. For example, this week has already seen a pullback in temperatures and late in the day, news was circulating that Sabine Pass (another LNG facility) was in the process of shutting down Train 3 without indication of how long the outage would last. End of month is also notoriously known for volatility, especially since the contract will be expiring in two days time. ~CL

Scroll to Top